新西兰基准标准普尔/NZX 50指数周二上涨0.2%，至13235点，扭转了前一交易日的跌幅。投资者等待GDP数据，预计该数据将凸显进一步刺激的必要性，经济预计在经历两个季度的增长后将重新陷入收缩，从而提升新西兰储备银行进一步宽松的前景。与此同时，在西班牙举行的美中贸易谈判取得进展的迹象缓解了人们对新西兰出口导向型经济风险的担忧。在数据方面，8月份的年度食品通胀率稳定在5%，与7月份持平，为2023年11月以来的最高水平。在个人投资者中，能源股Channel Infrastructure上涨了3%以上，这得益于油价上涨，乌克兰持续罢工导致俄罗斯供应中断，美国对俄罗斯原油买家的压力越来越大。健康和工业名称也有所上升，包括Summerset（+2.4%）、Ryman（+1.6%）和Ventia（+1.1%）。

New Zealand’s benchmark S&P/NZX 50 index rose 0.2% to 13,235 on Tuesday, reversing losses from the previous session. Investors awaited GDP data expected to highlight the need for further stimulus, with the economy projected to slip back into contraction after two quarters of growth, lifting prospects of additional RBNZ easing. Meanwhile, signs of progress in US-China trade talks in Spain eased concerns over risks to New Zealand’s export-driven economy. On the data front, annual food inflation held steady at 5% in August, unchanged from July and marking the highest since November 2023. Among individual movers, energy stock Channel Infrastructure jumped more than 3%, supported by rising oil prices amid supply disruptions in Russia from continued Ukrainian strikes and mounting US pressure on Russian crude buyers. Health and industrial names also advanced, including Summerset (+2.4%), Ryman (+1.6%), and Ventia (+1.1%).

周二，新西兰元跌至0.596美元左右，抵消了前一交易日的部分涨幅，投资者等待GDP数据，预计这将强调进一步刺激的必要性。新西兰经济在连续两个季度增长后预计将再次陷入收缩，这表明最近的势头可能是短暂的，可能会促使储备银行进一步放宽政策。与此同时，美元走弱限制了损失，因为市场预计美联储将降息25个基点，尽管一些投资者仍然认为加息0.5个基点的可能性很小。美中贸易谈判在西班牙取得进展的迹象进一步支撑了市场情绪，缓解了人们对新西兰出口导向型经济溢出风险的担忧，因为新西兰与中国有着密切的贸易关系。在数据方面，8月份的年度食品通胀率稳定在5%，与7月份持平，仍处于2023年11月以来的最高水平。

The New Zealand dollar fell to around $0.596 on Tuesday, paring some of the previous session’s gains, as investors awaited GDP data expected to underscore the need for further stimulus. The New Zealand economy is projected to slip back into contraction after two consecutive quarters of growth, suggesting that recent momentum may have been short-lived and could prompt additional policy easing by the Reserve Bank. Meanwhile, losses were capped by a weaker US dollar, as markets positioned for a widely anticipated 25 bps rate cut by the Federal Reserve, though some investors still saw a small chance of a larger half-point move. Sentiment was further supported by signs of progress in US-China trade talks in Spain, easing concerns about spillover risks to New Zealand’s export-heavy economy given its close trade ties with China. On the data front, annual food inflation held steady at 5% in August, unchanged from July and remaining at its highest since November 2023.

周二早盘，新西兰元50指数下跌23点，跌幅0.2%，至13186点，连续第二天下跌，触及9月4日以来的最低水平。交易员在本周晚些时候公布第二季度GDP数据之前仍持谨慎态度。路透社的一项民意调查显示，在前两个季度实现增长后，新西兰的国内生产总值预计将环比收缩0.3%，与新西兰储备银行的估计一致。周三美联储利率决定前的谨慎态度也打压了投资者情绪。在数据方面，食品通胀率稳定在5%，为2023年11月以来的最高水平。然而，受美中贸易谈判取得进展的迹象和对美联储即将做出的决定的乐观情绪的推动，隔夜华尔街的乐观情绪限制了损失。公用事业和非必需消费品是指数的主要拖累因素，哈伦斯坦（-2.0%）、矢量有限公司（-1.9%）、布里斯科集团（-0.9%）和西太平洋银行（-0.5%）跌幅显著。

The NZX 50 fell 23 points, or 0.2%, to 13,186 in early trading on Tuesday, marking its 2nd straight day of losses and hitting its lowest level since September 4. Traders remained cautious ahead of the release of Q2 GDP data later this week. A Reuters poll indicated that New Zealand's GDP is expected to contract by 0.3% qoq, aligning with the RBNZ’s estimates, after recording growth in the prior two quarters. Investor sentiment was also weighed down by caution ahead of the Fed's interest rate decision on Wednesday. On the data front, food inflation remained steady at 5%, marking the highest level since November 2023. However, losses were capped by an upbeat session on Wall Street overnight, buoyed by signs of progress in US-China trade talks and optimism surrounding the Fed’s upcoming decision. Utilities and consumer discretionary were the main drags on the index, with notable losses from Hallenstein (-2.0%), Vector Ltd (-1.9%), Briscoe Group (-0.9%), and Westpac Banking Corp. (-0.5%).

2025年8月，新西兰的年度食品通胀率稳定在5%，与7月份的通胀率持平，为2023年11月以来的最高水平。在牛奶、奶酪和黄油成本上涨的推动下，杂货价格对这一增长贡献最大，每年上涨4.7%。乳制品仍然是食品成本上涨的主要驱动力，肉类、家禽和鱼类也是如此，由于牛排、牛肉末和羊腿价格上涨，肉类、禽类和鱼类上涨了8.1%。水果和蔬菜价格上涨8.9%，非酒精饮料上涨3.9%，而餐馆餐和即食食品上涨2.4%。

Annual food inflation in New Zealand held steady at 5% in August 2025, matching July’s pace and marking the highest rate since November 2023. Grocery food prices contributed most to the increase, rising 4.7% annually, driven by higher costs for milk, cheese, and butter. Dairy products remained the main driver of rising food costs, alongside meat, poultry, and fish, which jumped 8.1% due to higher prices for beef steak, beef mince, and lamb leg. Fruit and vegetable prices climbed 8.9%, and non-alcoholic beverages increased 3.9%, while restaurant meals and ready-to-eat food were up 2.4%.